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US: Hospital bid-rigger avoids jail

By  |  April 8, 2013

A man and his two companies who pleaded guilty six years ago to rigging bids in two hospitals has avoided jail time, according to reports. Michael Theodorobeakos and his companies Monosis Inc. and STU Associates Inc. were accused of rigging bids of maintenance and insulation supplies and services intended for New York Presbyterian Hospital and Mount Sinai Medical Center. While Theodorobeakos admitted to the collusion between 2000 and 2005 – and faced up to 10 years in prison as well as a $1 million fine – his cooperation with authorities in the six years since his guilty plea earned him one year of probation and a $20,000 fine.

 

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